Bitcoin FAQs - Learn more about BTC

Everything you need to know about Bitcoin inside of Exodus.


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How do I create a new Bitcoin address?

By default, your Bitcoin wallet in Exodus will display one SegWit (bc1q) address. If you enable your Legacy address, it will display one Legacy address. Likewise, if you enable your Taproot address, it will display one Taproot address.

Sending and receiving to Taproot addresses is only available on Exodus Desktop.

You can also enable a feature to generate multiple SegWit, Taproot, and Legacy addresses for your BTC wallet. Once enabled, your wallet will create a new address every time it receives Bitcoin.

You can continue to receive Bitcoin at any of your old addresses. To export all of your wallet's Bitcoin addresses, please see the following:

Follow these steps to turn on multiple addresses in your wallet:

Desktop

1
In your Bitcoin wallet, a) click the More menu in the top right corner and b) click on Advanced Options.

2
Toggle on Multiple Addresses.

Mobile

1
Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

2
Toggle on Multiple Addresses.


What is the difference between different types of Bitcoin addresses?

The most visible difference between different types of Bitcoin addresses is the address formats.

There are four address types:

  • Legacy (P2PKH) addresses start with 1
  • Nested SegWit (P2SH) addresses start with 3
  • Native SegWit (bech32) addresses start with bc1q
  • Taproot (P2TR) addresses start with bc1p

All four addresses can be used to send and receive Bitcoin. So what's the difference? Well for starters, not all wallets support all four address types.

Legacy addresses are the original BTC addresses. You can expect all wallets to support sending and receiving to Legacy addresses.

Not every wallet or service has upgraded to support the new SegWit address formats and therefore, some wallets can only send to Legacy addresses. Luckily, if someone wants to send you BTC from a SegWit address, your Legacy address will be able to receive it just fine.

Note that Trezor's desktop and browser app Trezor Suite refers to 'Nested Segwit' as 'Legacy Segwit' although they are the same P2SH (starts with 3) type of address.

Sending Bitcoin to your SegWit address has lower fees than sending Bitcoin to your Legacy address.

Taproot addresses are a new SegWit address type that offers more advanced security, privacy, flexibility, and scaling to Bitcoin. However, Taproot addresses are not automatically supported by wallets that support existing SegWit addresses.

Exodus Desktop supports both sending and receiving to Taproot addresses. So you can send Bitcoin to the Taproot address of a wallet or exchange service from Exodus, and receive Bitcoin to a Taproot address in Exodus Desktop.

If you have a BTC balance in your Exodus Desktop Taproot address, you can enable Taproot addresses as view-only in Exodus Mobile.


What Bitcoin addresses does Trezor support on Exodus?

Exodus Supports sending to all four types of Bitcoin addresses. However, you can only receive funds to your Exodus Native SegWit address (starts with bc1q), your Exodus Taproot address (starts with bc1p), or your Legacy address (starts with 1).

Exodus does not support receiving BTC to Nested SegWit (starts with 3) addresses.
Trezor in Exodus Supports sending to all four types of Bitcoin addresses. However, you can only receive funds to your Exodus + Trezor Native SegWit address (starts with bc1q) or your Nested SegWit address (starts with 3).

Exodus + Trezor does not support receiving BTC to Legacy or Taproot addresses.

Sending and receiving to Taproot addresses is only available in Exodus Desktop. If you have a BTC balance in your Exodus Desktop Taproot address, you can enable Taproot addresses as view-only in Exodus Mobile.


How do I enable and find my Legacy address?

By default, when you open your Bitcoin wallet inside Exodus and click on Receive, you will be shown your SegWit address.

To also see your Legacy address, follow these steps to enable it in your wallet:

Desktop

1
In your Bitcoin wallet, a) click the More menu in the top right corner and b) click on Advanced Options.

2
Toggle on Legacy Address and return to your Bitcoin wallet.

3
Click Receive.

4
Finally, click the arrows to the left and right of the QR code to see your SegWit, Taproot, and Legacy receive addresses.

Mobile

1
Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

2
Toggle on Legacy Address and return to your Bitcoin wallet.

3
Tap on the Receive icon.

4
Finally, tap the arrows to the left and right of the QR code to see your SegWit, Taproot, and Legacy receive addresses.


How do I enable and find my Taproot address?

By default, when you open your Bitcoin wallet inside Exodus and click on Receive, you will be shown your SegWit address.

To also see your Taproot address, follow the steps below to enable it in your wallet.

Desktop

1
In your Bitcoin wallet, a) click the More menu in the top right corner and b) click on Advanced Options.

2
Toggle on Taproot Address.

3
Click Receive.

4
Finally, click the arrows to the left and right of the QR code to see your SegWit, Taproot, and Legacy (if enabled) receive addresses.

Mobile

Enabling Taproot addresses on Exodus Mobile is only available if you have a Taproot balance on Exodus Desktop. Sending and receiving to Taproot addresses is only available in Exodus Desktop.

1
Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

2
Toggle on Taproot Address.

3
Tap on the Receive icon.

4
Finally, tap the arrows to the left and right of the QR code to see your SegWit, Taproot, and Legacy receive addresses.


How does Exodus calculate Bitcoin transaction fees?

Exodus tracks changes in the Bitcoin network (BTC) and adjusts the fees accordingly using dynamic pricing models. These network fees are 100% paid to the Bitcoin Network (Miners) to ensure Exodus transactions are fast and delivered promptly.

When popular blockchain networks become congested, determining the right fee can make a big difference for your transaction. If a transaction fee is set too low, miners will not have the incentive to prioritize your transaction on the network resulting in delays and slow confirmations.

Exodus will automatically optimize transaction fees to make sure the wallet is paying the lowest fee which will get the transaction confirmed on the next block. This means that Bitcoin transactions should confirm in around 10 minutes.


How to enable and set custom Bitcoin fees?

Follow these steps to set your own Bitcoin fees.

Enabling custom fees will automatically turn on RBF.

Desktop

1
In your Bitcoin wallet, click Send.

2
Click Show Advanced icon in the top left corner to enable the advanced sending options.

3

Now you will see a slider:

  • a) Slide it to the left to pay a lower fee (will confirm slower)
  • b) Slide it to the right to pay a higher fee (will confirm faster)
  • c) You can also manually input your custom fee by clicking the Pencil icon.

That’s it! You have set a custom transaction fee to send your Bitcoin.

Mobile

1
Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

2
Locate where it says Custom Fees and toggle on.

3
Tap on the Send icon.

4
a) Enter the amount you wish to send, and b) tap Enter.

5
Tap on Advanced.

6

Now you will see a slider:

  • a) Slide it to the left to pay a lower fee (will confirm slower)
  • b) Slide it to the right to pay a higher fee (will confirm faster)
  • c) You can also manually input your custom fee by clicking the Pencil icon.

That’s it! You have set a custom transaction fee to send your Bitcoin.


What if I get a warning about paying extra fees?

If you try to send out your Bitcoin from a transaction that is not yet confirmed on the blockchain, Exodus will warn you that you are paying higher fees for spending an unconfirmed transaction. This will create a CPFP transaction.

You'll also receive this warning if you are sending out lots of UTXOs or a very large sized transaction that will incur higher-than-usual fees.

CPFP transaction fees are higher to incentivize miners to include the transaction in the next block mined. Make sure you’re willing to pay the extra fee before proceeding.

If you don't want to pay the extra fees, you can wait for all of your incoming transactions to be confirmed on the blockchain before sending a transaction out.


What should I do if my transaction is stuck?

There is a chance that if you set your fee too low your transaction will get stuck and might take a long time to confirm.

Do not worry! Exodus has a built-in feature for you to ensure you can speed up your slow transaction.

All you need to do is open your Bitcoin wallet on your desktop or mobile device, find the transaction that has been stuck pending for too long, then click/tap it to see more details and finally click/tap Accelerate.

You will need some Bitcoin available in your wallet to accelerate a transaction. If you chose to send All your Bitcoin then you will not be able to accelerate your transaction.

This will resend your transaction with a higher fee to ensure it gets confirmed for you.

Desktop

Mobile

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